TECH08

Qualcomm forecasts earnings below expectations as smartphone demand worsens

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Feb 2 (Reuters) – Qualcomm Inc (QCOM.O) forecast second-quarter revenue and profit below Wall Street estimates on Thursday, as the company grapples with weak demand for smartphones and a supply glut. Smartphone shipments dropped 18.3% in the quarter ended Dec. 31 marking the largest ever quarterly slump, according to data from research firm IDC, as …

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Microsoft rolls out ChatGPT-powered Teams Premium

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Feb 1 (Reuters) – Microsoft Corp (MSFT.O) on Wednesday rolled out a premium Teams messaging offering powered by ChatGPT to simplify meetings using the AI ​​chatbot that has taken Silicon Valley by storm. The premium service will cost $7 per month in June before increasing to $10 in July, Microsoft said. OpenAI-owned ChatGPT will generate …

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Wall Street dips as Fed decision looms; AMD boosts chipmakers

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Fed’s rate decision expected at 1400 ET AMD expects strong second half of 2023 Amgen weighs on Dow as Q4 revenue falls slightly EA cuts bookings view, shares slide Indexes down: Dow 0.64%, S&P 0.26%, Nasdaq 0.15% Feb 1 (Reuters) – US stock indexes fell on Wednesday ahead of the Federal Reserve’s decision on interest …

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People who posted Sam Bankman-Fried’s bail should be named, US judge rules

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NEW YORK, Jan 30 (Reuters) – A US judge on Monday said the names of two people who helped guarantee bail for indicted FTX cryptocurrency exchange founder Sam Bankman-Fried should be made public, but put his ruling on hold pending an expected appeal. US District Judge Lewis Kaplan in Manhattan ruled in favor of several …

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Samsung flags further chip slowdown after booking 8-year-low profit

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Chip profit lowest in more than a decade Analysts expect chip business to report Q1 loss Company says demand to recover starting H2 SEOUL, Jan 31 (Reuters) – Samsung Electronics Co Ltd (005930.KS) on Tuesday reported its lowest quarterly profit since 2014 and said persistent macroeconomic uncertainty will make for a tough first half year, …

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China’s 2022 smartphone shipments the lowest in 10 years – research firm

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SHANGHAI, Jan 29 (Reuters) – China’s smartphone sales fell 13% year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday. The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 sales volume was …

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FTX founder Bankman-Fried objects to tighter bail, says prosecutors ‘sandbagged’ him

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NEW YORK, Jan 28 (Reuters) – Lawyers for Sam Bankman-Fried on Saturday urged a US judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors “sandbagged” the process to put their client in the “worst possible light.” The lawyers were responding to a Friday …

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Japan, Netherlands to join US in restricting chip equipment exports to China, Bloomberg reports

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TOKYO, Jan 27 (Reuters) – Japan and the Netherlands will soon agree to join the United States in restricting exports of semiconductor manufacturing equipment to China, Bloomberg News reported. Talks between the countries will conclude as early as Friday, with the Netherlands restricting ASML Holding NV (ASML.AS) from selling machines to China used to make …

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